by Pinnacle | Nov 7, 2014 | Business Advice, Just Stuff - General Interest
I thought we were going paperless. So why were we still using so much paper? Almost 10 years ago our office implemented “paperless” files. The decision arose partly out of a concern for the environment but mostly from the realization that we were spending a lot of...
by Pinnacle | Oct 14, 2014 | Accounting News, Advice and Information, Business Advice, Just Stuff - General Interest
If you are anything like me, you need a reminder if you are going to get anything done on time. Fortunately for me, there aren’t any consequences to missing my hair cut appointment – save for looking like a bit of a hippy. Dealing with CRA is a different ball game. ...
by Pinnacle | Oct 3, 2014 | Accounting News, Advice and Information, Business Advice, Just Stuff - General Interest, Planning and Tax Stuff
Many small businesses face a common dilemma regarding financial reporting. They want to minimize tax, which means reporting low income. But they also want to keep their banker happy, which means reporting high income. I often need to counsel clients that they can’t...
by Pinnacle | Sep 26, 2014 | Accounting News, Advice and Information, Business Advice, Planning and Tax Stuff
As an accountant and personal finance geek there are some things that people do and say about money that drive me crazy. That’s because often times people’s actions and thoughts on money issues make absolutely no sense mathematically. Examples include being happy...
by Pinnacle | Sep 3, 2014 | Business Advice, Just Stuff - General Interest
In the last few years, there has been an explosion of new technology in the business application environment. I recently attended a conference where some of these software applications were on display. One speaker at this conference likened the recent “app explosion”...
by Pinnacle | Jul 24, 2014 | Business Advice, Just Stuff - General Interest
Quick Books Online Conversion We recently did our first conversion of a client from Quick Books Desktop (QBD) to Quick Books Online (QBO). With only a couple of hitches, it went off pretty well. Our client is a building contractor with 8 employees. The in house...
by Pinnacle | Jul 21, 2014 | Business Advice, Just Stuff - General Interest
People sometimes think that we accountants are aloof or difficult to talk to. You might even say we have our heads in the cloud. Here at Pinnacle, we have to confess that we have had our heads in the cloud lately. It’s not what you may think though. We are talking...
by Pinnacle | Feb 18, 2014 | Business Advice, Just Stuff - General Interest, Pinnacle PAC News
Pinnacle PAC knows that leaders are readers. The Pinnacle Team endeavors to constantly nurture our minds, expand and enhance our services, and remain thought and practice leaders in the accounting industry. We have assembled an ever-growing list of books that we feel...
by Pinnacle | Jan 20, 2014 | Accounting News, Advice and Information, Business Advice, Planning and Tax Stuff
If you are a doctor, dentist, or other professional and are considering purchasing a practice, you are likely contemplating a purchase of shares. And you should read this blog. There are a number of ways to structure a purchase of shares, but in this blog I will...
by Pinnacle | Oct 16, 2013 | Accounting News, Advice and Information, Business Advice
I have a Bookkeeper! Do I really need an Accountant? Two of the most frequent questions we are asked are: Explain the difference between a bookkeeper and an accountant. If I have one do I need the other? (The answer is usually yes.) They are great questions. Because...
by Pinnacle | Sep 17, 2013 | Accounting News, Advice and Information, Business Advice, Planning and Tax Stuff
We are often asked by clients whether they should lease or purchase their vehicles (either outright or using a loan). We have tried to distill the decision down to a few rules of thumb. In general, leasing is more expensive than buying because the leasing company...
by Pinnacle | Sep 3, 2013 | Accounting News, Advice and Information, Business Advice, Planning and Tax Stuff
Do you own a small business corporation in Canada? Do you and your family receive wages from the corporation and have medical expenses? If the answer to both of these questions is yes, you may want to consider the benefits of a private health services plan (PHSP)....
by Pinnacle | Aug 7, 2013 | Accounting News, Advice and Information, Business Advice
We all spend time as kids imagining how our lives might be when we grow up. And then we grow up and we find ourselves imagining what might happen if… In business, those daydreams can often turn into guessing games, red herrings and assumptive goose chases. ...
by Pinnacle | Jul 24, 2013 | Business Advice
One of our major areas of expertise is the construction industry. Many of our clients operate successfully in this industry, and we help provide tools for them to succeed. Construction companies have some unique challenges and opportunities – from a tax...
by Pinnacle | Jun 20, 2013 | Business Advice, Planning and Tax Stuff
How Much Is My Business Worth? As a small business owner, you probably wonder from time-to-time how much the business you’ve built is worth. There is no easy or straight-forward answer to the question “How much is my business worth?” It may be worth more to you than...
by Pinnacle | May 25, 2013 | Business Advice, Planning and Tax Stuff
Is your corporation a personal services business? If you are the sole individual working in your corporation, you may be carrying on a personal services business (“PSB”). More and more small corporations are being labeled as personal services businesses by...
by Pinnacle | Apr 11, 2013 | Business Advice, Just Stuff - General Interest, Pinnacle PAC News
Why Do We Offer Free Initial Consultations? Many professional firms offer “free initial consultation” to the public as an enticement to get you in the door. It’s part of their promotional strategy to attract new customers. We offer free initial consultations for a few...
by Pinnacle | Mar 28, 2013 | Business Advice, Planning and Tax Stuff
Cash flow is the movement of money into and out of a business or project. Cash flow is imperative to the success of any business. However, many small businesses owners don’t fully understand how important it is to estimate, track, and analyze cash flows. If cash flow...
by Pinnacle | Jan 22, 2013 | Accounting News, Advice and Information, Business Advice, Planning and Tax Stuff
Most small business owners eventually face the question of whether or not to incorporate their business by creating a limited liability company or “corporation”. Owners of small business corporations enjoy preferential tax treatment in Canada in the form of lower...
by Doug Johnstone | Mar 5, 2012 | Business Advice
Your Value Proposition What sets you apart from your competition? We recently held an offsite retreat and one of the objectives was to try to better understand our “value proposition”. By understanding our value proposition, we can refine our service delivery and...
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